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  • January 14, 2008 at 11:47 AM #135839
    SD Realtor
    Participant

    FLU one thing I have to stress is that it was only able to be done because it was an ALL CASH deal. Not half cash, not alot of cash, not mostly cash, but ALL CASH.

    So I am not so sure there will be as many of these as one would think.

    However, next time someone posts about one of these hidden deals, before I shout out my opinion I will check the tax roll to see if it was cash!

    SD Realtor

    January 14, 2008 at 3:54 PM #135665
    zk
    Participant

    So what was the benefit to the buyer to participate in this scheme? He’s going to pay higher property tax because of the higher purchase price, so there must be some benefit to him. What is it?

    January 14, 2008 at 3:54 PM #135862
    zk
    Participant

    So what was the benefit to the buyer to participate in this scheme? He’s going to pay higher property tax because of the higher purchase price, so there must be some benefit to him. What is it?

    January 14, 2008 at 3:54 PM #135865
    zk
    Participant

    So what was the benefit to the buyer to participate in this scheme? He’s going to pay higher property tax because of the higher purchase price, so there must be some benefit to him. What is it?

    January 14, 2008 at 3:54 PM #135923
    zk
    Participant

    So what was the benefit to the buyer to participate in this scheme? He’s going to pay higher property tax because of the higher purchase price, so there must be some benefit to him. What is it?

    January 14, 2008 at 3:54 PM #135966
    zk
    Participant

    So what was the benefit to the buyer to participate in this scheme? He’s going to pay higher property tax because of the higher purchase price, so there must be some benefit to him. What is it?

    January 14, 2008 at 4:07 PM #135670
    Anonymous
    Guest

    FLU one thing I have to stress is that it was only able to be done because it was an ALL CASH deal. Not half cash, not alot of cash, not mostly cash, but ALL CASH.

    SD Realtor, I know you’re probably frustrated about hearing this from me without posting specifics on this board, but I do want to reiterate that cash back at closing can be done with 100% financing. Yes, it is a fine line, that’s why I said a “legal loophole” is used.

    January 14, 2008 at 4:07 PM #135867
    Anonymous
    Guest

    FLU one thing I have to stress is that it was only able to be done because it was an ALL CASH deal. Not half cash, not alot of cash, not mostly cash, but ALL CASH.

    SD Realtor, I know you’re probably frustrated about hearing this from me without posting specifics on this board, but I do want to reiterate that cash back at closing can be done with 100% financing. Yes, it is a fine line, that’s why I said a “legal loophole” is used.

    January 14, 2008 at 4:07 PM #135870
    Anonymous
    Guest

    FLU one thing I have to stress is that it was only able to be done because it was an ALL CASH deal. Not half cash, not alot of cash, not mostly cash, but ALL CASH.

    SD Realtor, I know you’re probably frustrated about hearing this from me without posting specifics on this board, but I do want to reiterate that cash back at closing can be done with 100% financing. Yes, it is a fine line, that’s why I said a “legal loophole” is used.

    January 14, 2008 at 4:07 PM #135928
    Anonymous
    Guest

    FLU one thing I have to stress is that it was only able to be done because it was an ALL CASH deal. Not half cash, not alot of cash, not mostly cash, but ALL CASH.

    SD Realtor, I know you’re probably frustrated about hearing this from me without posting specifics on this board, but I do want to reiterate that cash back at closing can be done with 100% financing. Yes, it is a fine line, that’s why I said a “legal loophole” is used.

    January 14, 2008 at 4:07 PM #135970
    Anonymous
    Guest

    FLU one thing I have to stress is that it was only able to be done because it was an ALL CASH deal. Not half cash, not alot of cash, not mostly cash, but ALL CASH.

    SD Realtor, I know you’re probably frustrated about hearing this from me without posting specifics on this board, but I do want to reiterate that cash back at closing can be done with 100% financing. Yes, it is a fine line, that’s why I said a “legal loophole” is used.

    January 14, 2008 at 4:21 PM #135680
    SD Realtor
    Participant

    zk you are correct about the higher prop taxes. As far as benefit, the only benefit that I see is that he has created an inflated comp. Thus if he is going to apply for financing, be it a heloc or a mortgage the value of his home will appear to be higher then it really is.

    SD Realtor

    January 14, 2008 at 4:21 PM #135877
    SD Realtor
    Participant

    zk you are correct about the higher prop taxes. As far as benefit, the only benefit that I see is that he has created an inflated comp. Thus if he is going to apply for financing, be it a heloc or a mortgage the value of his home will appear to be higher then it really is.

    SD Realtor

    January 14, 2008 at 4:21 PM #135881
    SD Realtor
    Participant

    zk you are correct about the higher prop taxes. As far as benefit, the only benefit that I see is that he has created an inflated comp. Thus if he is going to apply for financing, be it a heloc or a mortgage the value of his home will appear to be higher then it really is.

    SD Realtor

    January 14, 2008 at 4:21 PM #135938
    SD Realtor
    Participant

    zk you are correct about the higher prop taxes. As far as benefit, the only benefit that I see is that he has created an inflated comp. Thus if he is going to apply for financing, be it a heloc or a mortgage the value of his home will appear to be higher then it really is.

    SD Realtor

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